FDC has entered into definitive agreements for the acquisition of additional stake in Fair Deal Corporation pharmaceutical SA (PTY), South Africa (FDC SA) through secondary acquisition of 143,000 equity shares of FDC SA, having Face value of RAND 1 each, and representing 44% of the share capital of FOCSA from Pharma Q Holdings Pty (Pharma Q), one of the joint venture partner and settlement of outstanding loan of ZAR 6.5 million equivalent to approximately Rs 2,92,31,280 availed by FOCSA from Pharma Q.
The said transaction is subject to completion of various closing conditions. Upon completion of the transaction, the company would be holding 93% of the equity share capital of FOCSA, whereby FOC SA would become a subsidiary of the company.
FDC is engaged in manufacture of specialized formulations, and oral rehydration salts (ORS).
